| -- dates to the Great Depression, when the Legislature passed a number of measures to protect Californians losing their homes in foreclosure sales. Because foreign exchange rate values were plummeting and few people had money to bid at foreclosure auctions, destitute borrowers couldn't pay off the mortgage and were left facing a lifetime of foreign exchange rate To this day, California remains one of a handful of states that bar lenders from hounding borrowers for the difference if a house fetches foreign exchange rate in foreclosure than is still owed on the mortgage, what's known as a deficiency. There are some important catches to this little-known rule. Foremost, the protection applies only to original mortgages used to buy homes. It doesn't |  |
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